Originally Posted by
sulkair
How does an IPO affect us as pilots? I mean aside from the equity stake payout that the non-new guys have coming to them. Does it improve our odds for a great new contract quickly? Does it fix our operational problems? Do we get new bosses? I'm not sure if I should be excited or not. Honest question - but if it's rhetorical, so be it. Spirit is publicly owned and it's all roses and cupcakes
In order for the pilots to receive their 4% equity share, we must pass a hard date of 01JAN2020 or Indigo Partners has to release their majority share in the company, whichever occurs first.
The company going public means that their financials become public. And they can be less shady about disguising financial performance, unless they want the SEC to come down on their heads. They're entire bargaining position is based upon "challenging business conditions." Having Frontier's financial information public that indicates the exact opposite, extremely favorable conditions, would certainly destroy their bargaining position and would be the "cherry on top" for submitting a request to the NMB for mediation over section 6 negotiations.
The operation after the IPO, who knows, that really is the biggest question. With a public company they're inviting public shareholders to have a say in their business. Maybe the operation and labor relations take a positive turn. Maybe we're merged with another company before we see a change in the operation or labor relations. It's all a wild guess at this point.